Big Changes At Big Lots

Also, the CFOs at Genus and Opnet, two tech companies, jump ship.
Jennifer CaplanAugust 31, 2001
  • Managers at Big Lots, Inc. a Columbus, Oh.-based closeout retailer, appointed Jeffrey G. Naylor senior vice president and chief financial officer. Naylor will report to Albert J. Bell, vice chairman and chief administrative officer. On May 30, Big Lots officials said CFO Mark Shapiro was leaving the company to accepted a senior position at Lewisville, Tex.-based wholesale food supplier, Fleming Cos Inc. Bell served as acting CFO in the interim.

    Naylor joins Big Lots from Dade Behring, a $1.2 billion medical diagnostics company, where he was senior vice president and chief financial officer. Naylor has also served as vice president and controller at clothing retailer, The Limited, Inc., and as vice president and controller at Sears Roebuck. Earlier in his career, he held various financial positions at Kraft Foods and Dun & Bradstreet. Naylor began his career with the accounting firm at Deloitte & Touche. He received his BA from Northwestern University, and his MBA from the Kellogg Graduate School of Business. He is also a certified public accountant.

  • Kenneth Schwanda, CFO at Genus Inc., a provider of manufacturing systems to the semiconductor industry, said he is leaving after nine years with the Sunnyvale, Calif.-based company. Schwanda plans to relocate out of the Bay Area, but has agreed to stay on as a consultant through the transition period. Bill Elder, CEO of Genus, will temporarily take over the reigns until a permanent CFO is found.

It might be a while. The semiconductor industry is not exactly humming, and Genus’s numbers reflect the gloom. Although net losses for the six months ending June 30, 2001 decreased to $722,000 from $12.4 million in the same period the year prior, the company was still in the red for the quarter. Net loss for the second quarter was $853,000 or $0.04 per share, compared to $2.1 million, or $0.11 per share in the same quarter of 2000.

Schwanda, joined Genus in 1992 and has held several financial management positions. In 1998, he became CFO after the company sold its ion implant division and restructured its management team.

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  • Joseph F. Greeves, CFO at Bethesda, Md.-based Opnet Technologies, Inc., a provider of network management software, announced he is leaving the company for personal reasons. The company’s financial health, however, appears to be stable. For the first fiscal quarter ended June 30, 2001, the company’s revenues came in at $11.1 million, an increase of 73% over the same quarter of the prior year and 11% over the immediately preceding fourth quarter of fiscal 2001. Company officials said in a statement that they have already initiated recruitment efforts. In the meantime, Suzanne Housman, Opnet’s controller for consulting services, has been appointed acting CFO.